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Q1b. Assume the estimated first-year NOI of the subject property is $600,000. Further, assume that data from the sale of comparable property indicates the appropriate

Q1b. Assume the estimated first-year NOI of the subject property is $600,000. Further, assume that data from the sale of comparable property indicates the appropriate cap rate is 8.5 percent. What is the indicated value of the subject property? (Chapter 8, Valuation Using Income Approach).

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